There’s no denying it: the real estate sector is opening up for investments across the world. The world has certainly gone past a period where women were merely making a foray into a lucrative business. Today, they are shapers of the biggest industries in the world, real estate being the most preeminent.
Still, Winston Deloney believes that the real estate world is quite different from other business ventures. He believes every investor requires a proven strategy for success, especially newcomers.
We see more women going into real estate investment as first-timers. So, we spoke to Winston Deloney, who has been in the industry for a while. He sheds light on the current rate of female entry into the market and shares important tips for female investors.
Winston Deloney is a household name in the real estate sector, meaning you’ve been around for long. Tell us, how hard is it to be a real estate investor?
I think I should start like this: Nothing good comes easy. The same applies to real estate investment. The ease of the real estate sector ends with your entry. Once you make your entrance, you’ll have to put in all the hard work, take risks, and invest large sums over a long period patiently.
How often do you see newcomers stepping into the industry?
Newbies make an entry into the country’s real estate sector almost every day if we’re keeping it at a buck. Yet, I think the important indicator to look out for is how often do newbies get themselves established in the sector and achieve success.
I’d say every six to twelve months, we see new real estate investors make a significant mark in the sector.
Is the female to male participation improving or should we still hope for more?
There are just about 30% of women in real estate. That’s far from where we want to be. We need to see more women coming into, and excelling in the real estate business
What pieces of advice do you have for female real estate investors?
For women making their first investment in the sector, I have four proven tips to help them scale their investment.
First, choose the best time to invest. Not every market boom is suitable for you to invest in. Ensure you have an emergency fund stacked up and your debts settled before you consider real estate investment.
Next, maintain confidence. Every investment requires self-confidence and level-headedness. This attribute will help you make decisions with clarity and focus.
Also, I advise female real estate investors to set measurable goals for themselves. Understand what you want to achieve, when, and how you intend to go about it. The real estate industry doesn’t allow for so much spontaneity.
Lastly, maintain a contingency plan. Plans may fail and goals may shatter. But you must be ready to bounce back as soon as you hit the ground. A backup plan will always come in handy for any real estate investor.
Do you project more female participation in the coming years?
I’d say we shouldn’t limit the potential of female real estate investors. In the coming months, more women will venture into the industry and become more successful than we expect.
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